US corn inspected for export up 9% on week, 17.2% on year: USDA

The amount of US corn inspected for export rose 9% week on week to 1.719 million mt in the week ended April 19, Department of Agriculture data showed Monday.

The amount of corn inspected was 17.2% higher than the 1.467 million mt inspected for export in the year-ago week, according to the USDA's weekly Federal Grain Inspection Service report.

The largest share of US grain exports last week was corn, at 58.6% of the total grains inspected for export. Wheat held the second largest share, consisting of 21.1% of US grains inspected for export. Soybeans were the third largest grain inspected for export, consisting of 16% of the total, according to the USDA data.

In the 33 weeks since the current marketing year began September 1, the amount of US corn inspected for export totaled 29.774 million mt, 20.3% lower than in the same period the previous marketing year and 52.7% of the USDA's 56.518 million mt projection for the current marketing year ending August 31.

US export shipments were above the weekly pace needed to reach the USDA's latest estimates for exports this marketing year, according to the data.

The data showed the total amount of US corn that was inspected leaving the US Gulf Coast was 865,850 mt -- 834,100 mt of yellow corn and 31,750 mt of white corn. The top destinations were Colombia with 223,972 mt of yellow corn inspected and weighed for export, Mexico with 118,301 mt -- 86,551 mt of yellow corn and 31,750 mt of white corn, and Japan with 117,326 mt of yellow corn.

The amount of US corn inspected leaving the US Pacific Coast was 609,660 mt of yellow corn. The top destinations were South Korea with 272,220 mt, Vietnam with 139,098 mt, Taiwan with 71,522 mt and China with 65,631 mt, all of them of yellow corn.

The total of US corn that was inspected leaving the Interior region was 188,613 mt -- 183,623 of yellow corn and 4,990 mt of white corn -- with the top destination being Mexico with 148,614 mt of yellow corn and 4,990 mt of white corn.

US corn inspected for export is corn that has been sold and is inspected during loading at export locations for shipment overseas. Traders consider the pace needed to meet the USDA projection an indicator of demand.

Corn is the primary feedstock for ethanol production in the US and is the main competitor for dried distillers grains.

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